KEENAN: Rand Paul Is Wrong About The DeficitPost Date: 2018-02-13 07:40:30 by Gatlin13 Comments Study the chart below, math whizzes: 2% growth: $1.2T deficit 3% growth: $900B deficit 4% growth: $600B deficit 5% growth: $300B deficit 6% growth: $0 deficit, balanced budget 1% economic growth = $300 Billion of federal revenue. Let me be the first to say it, the new spending measure by Trump & the GOP may BALANCE THE BUDGET. Rand Paul kept the Senate wide awake on Thursday night, grandstanding to lament what he called a $1.2 Trillion annual deficit predicted by this new bi-partisan spending measure. But who predicts the deficit? The CBO. The CBO has based its revenue projection off their usual static scoring, presuming a pessimistic 2% growth (apparently for the upcoming ...

The discreet terror of the American bourgeoisiePost Date: 2018-02-10 07:22:20 by A Pole15 CommentsElites thought they could have it both ways: capital gains and moral certainty [ A product of privilege himself, Luce is an unlikely rebel. The Oxford-educated FT writer is the son of Margaret Thatchers former minister Baron Richard Luce (also the former Lord Chamberlain). While his paternal grandfather was Sir William Luce, once the Governor of Aden (now in Yemen) and his maternal great-grandfather was Sir Trevylyan Napier, a one-time chief of the British Navy in the West Indies. But, then again, perhaps his background helps Luce to realize when the elite has gone too far. ] [...] What will Americas elites see when they look inwards? The first will be the shock of ...

White House Issues Statement On Today's Historic Market Crash (Dow Plunges Almost 1200 Points) Post Date: 2018-02-05 18:59:38 by hondo689 CommentsToday, the Dow Jones suffered (including the plunge after hours) its biggest point crash in history, turning negative for the year, which for a president who takes particular delight in every uptick in the market, was terrible news. So, as many expected, the White House issued a statement after the close, commenting on today's market crash. Predictably, there was little commentary of the "day to day" moves, and instead Trump deflected by pointing out that he is now focusing on the economy's "long-term fundamentals" instead. Full statement below: "The Presidents focus is on our long-term economic fundamentals, which remain exceptionally strong, with ...

Success: EPA set to reduce staff 50% in Trump's first termPost Date: 2018-01-10 03:05:17 by Tooconservative3 Comments The Environmental Protection Agency, seen by President Trump as a bloated bureaucratic whale, is on schedule to fulfill his promise to reduce its staff nearly in half by the end of his first term mostly through retirements, not cuts, according to officials. The EPA Tuesday provided to Secrets its first year staff results which show that the agency is below levels not seen since former President Reagans administration. And if just those slated to retire by early 2021 leave, Administrator Scott Pruitt and his team will have reduced a staff of nearly 15,000, to below 8,000, or a reduction of 47 percent. Were proud to report that were reducing the size of government, ...

The States' Unfunded Pension NightmaresPost Date: 2017-12-30 10:56:24 by Tooconservative7 Comments Pensions: The stock market boom has helped everyone, right? Nope. States' pension funds have nearly $4 trillion of stock investments, but somehow haven't benefited from soaring stock prices. A new report by the American Legislative Exchange Council (ALEC) shows why this is true. It notes that the unfunded liabilities of state and local pension plans jumped $433 billion in the last year to more than $6 trillion. Let that number sink in for a moment: It's one-third the size of the U.S. economy, equal to "a whopping $18,676 for every man, woman, and child, or nearly $50,000 for every household in America," as The Daily Signal notes. It's a massive amount of money, in ...

Trump’s direction is a road to ruinPost Date: 2017-11-13 10:23:02 by Willie Green37 CommentsMention Kansas and peoples minds turn to Dorothy, Toto and the yellow brick road.That view almost always turns on the technicolour version of The Wizard of Oz. Not the black, white, dusty and generally unforgiving opening (and closing) shots of Kansas.Beyond that, however, it would be difficult for anyone outside of the US (and even outside of the mid-west) to name anything of note about the Sunflower State.But for the past five years Kansas has also been the centre of an important tax change.And the proponents of that change have been left with a lot of egg all over their faces.In 2010, the good people of Kansas elected Republican Sam Brownback as the states governor.His aim ...

You’re Better Off in a State With a Higher Income TaxPost Date: 2017-10-28 11:07:31 by Willie Green20 CommentsThe Higher the Better, Says 2017 StudySupply-side economics isnt delivering. Many lawmakers in Congress and in statehouses around the country peddle the same supply-side theory about income taxes: the lower the tax, the more the economy will grow. But new research from the Institute on Taxation and Economic Policy reveals this economic approach is failing to deliver in the states. In fact, states with higher income taxes outperformed states with no income tax. My colleagues and I compared the economic track record of the states that have charted the most radically different courses with their income tax policies, or lack thereof. Specifically, we examined economic growth in the nine ...

Donald Trump: King of Deregulation?Post Date: 2017-10-24 12:37:50 by Tooconservative3 Comments In a speech on October 11 promoting his tax-reform plan, Donald Trump spoke rosily of Americas economic revival, crediting himself for having cleared the way for growth. Since January of this year, we have slashed job-killing red tape all across our economy, the president said. We have stopped or eliminated more regulations in the last eight months than any president has done during an entire term. Its not even close. It seemed a characteristic bit of Trumpian magniloquencehes not only a boffo deregulator, hes the best ever! Still, it was a remarkable claim. Trump has overseen more deregulation than George W. Bush or Ronald ...

EPA Chief Scott Pruit To Repeal Obama’s Global Warming RulePost Date: 2017-10-09 15:34:53 by Tooconservative0 Comments Environmental Protection Agency (EPA) Administrator Scott Pruitt announced he would sign a proposed rule to repeal the centerpiece of former President Barack Obamas plan to fight global warming. Pruitt announced his intention to withdraw the Clean Power Plan (CPP) to applause from a crowd gathered at a mining event on Monday. EPA has been working to repeal the CPP for months. @EPAScottPruitt: Tomorrow, Ill be a signing a proposed rule to withdraw the so-called Clean Power Plan of the past administration. pic.twitter.com/6hjvfkoX5d  Fox News (@FoxNews) October 9, 2017 The Obama administration finalized the CPP in 2015, which aims to cut carbon dioxide ...

A Conservative Tax Hike [ending state-tax deductions]Post Date: 2017-10-01 22:13:25 by Tooconservative28 Comments President Donald Trumps tax-reform plan is in total a very expansive steaming pile of irresponsibility  and the presidents argument that it will lead to sustained 6 percent economic growth is pure fantasy  but it does have one attractive provision: raising taxes on blue-state progressives. The plan would eliminate the deductibility of state and local income taxes for federal tax purposes. In the highest bracket, Californians are paying 13.3 percent in state income taxes, and that money comes off the top when those high-earning Silicon Valley types are calculating federal taxes. In New York City, the Wall Street guys are paying 8.82 percent to the state and another ...

John McCain comes out against GOP's last-ditch Obamacare repeal billPost Date: 2017-09-22 15:12:24 by Jameson15 CommentsSen. John McCain announced Friday that he opposes the Republicans' last-ditch Obamacare repeal effort, which could almost nearly kill the bill. The Arizona Republican released a statement about the bill, proposed by Sens. Bill Cassidy, R-Louisiana and Lindsey Graham, R-South Carolina, which would repeal Obamacare's structure and replace it with block grants for states and it would roll back the 2010 health care law's Medicaid expansion.

How Price Gouging Helped My Family during a StormPost Date: 2017-09-07 10:24:54 by hondo688 CommentsI was grateful for Walmart because by raising its price for milk it thwarted the greedy customers who, without consideration for others, snatch up two and three gallons. Two years ago, Raleigh, North Carolina, was expecting a severe ice storm and some minor accumulation of snow. For those living in the Northeast that is just a typical Tuesday. But for those of us living in North Carolina, it is a reason to go into full panic. The Price of Milk So I decided to leave work a few hours early in order to beat the storm. Before leaving, however, my wife texted me and asked if I could stop on my way home and pick up some milk. By raising the price of milk, Walmart gave people proper incentive to ...

Rick Perry on supply and demand economics: Supply it, then demand will followPost Date: 2017-07-06 19:01:44 by Willie Green2 CommentsSecretary of Energy Rick Perry sparked disbelief on Twitter Thursday after he tried to offer an economics lesson while touring a coal plant in West Virginia. "Here's a little economics lesson: supply and demand. You put the supply out there and the demand will follow," Perry said, responding to a question about a shale gas boom in comments captured by S&P Global Market Intelligence reporter Taylor Kuykendall. "The market will decide which of these  they're going to pick and choose," Perry continued at Longview Power Plant. "I mean, that's really pretty simple. All too often, you have in the last eight years, you have an administration ...

Report: Steve Bannon wants to raise federal income taxes on the richPost Date: 2017-07-03 18:33:54 by Tooconservative30 Comments A companion piece to Andrews post this morning about the diminishing appetite among Republicans for tax cuts unto death. The mystery in Bannons case is why hes pushing this knowing that Paul Ryans going to vomit when he hears about it and the conservative, tax-cutting House Republicans caucus will quickly dismiss it out of hand. Maybe thats the point. Steve Bannon is causing a stir inside the administration by pushing an idea thats anathema to most Republicans: raising taxes on the wealthiest Americans to pay for steep middle and working-class tax cuts. (Some officials whove heard Bannons idea think its crazy, but the Presidents ...

China's JAC Motors unveils first vehicles assembled in Mexico Post Date: 2017-07-01 21:21:34 by Anthem8 CommentsJAC Motors of China has presented the first two SUVs manufactured in Mexico. It happened after JAC signed an alliance with Giant Motors Latin America and the Inbursa financial group, owned by Mexican magnate Carlos Slim, which represents an investment of around 4.4 billion pesos (236 million U.S. dollars). "It is significant for us to see our company enter the North America market, where Mexico plays an important and strategic role. We want to use this to gradually update our products and position the brand in a mature market with potential niche," David Zhang, deputy director-general of JAC International, told Xinhua on Tuesday. The vehicles are being manufactured at a plant ...

Trump Tax Plan Eyes Cut to Deduction for High-Tax StatesPost Date: 2017-05-16 11:57:44 by Tooconservative3 CommentsPresident Donald Trumps tax plan, a broad and general plan that would make supply-siders such as Ronald Reagan and Jack Kemp very happy, could be held up by a number of details that are making some Republicans nervous. One is the elimination of an income-tax deduction for high-tax states such as New York and California. Former President Ronald Reagan targeted that deduction in the 1980s  the last time significant tax reform was passed  but a number of influential big-state Republicans helped kill the idea. Tax reform passed anyway, first with the Kemp-Roth tax-cut package, in 1981, and then the Tax Reform Act, in 1986. They were massive reforms, and no major fix for ...

OPEC to U.S.: Please produce less oil for the ‘prosperity of the world economy’Post Date: 2017-05-11 23:49:30 by Tooconservative4 Comments OPEC, the oil cartel really cares about the world. Thats the message of a new monthly report issued Thursday. OPEC says what the world needs now is a bit less supply on the global oil market. In particular, they would really appreciate it if the United States would stop producing so much damn oil for the good of the world of course. From CNN Money: The report said that balancing the market would require the collective efforts of all oil producers and should be done not only for the benefit of the individual countries, but also for the general prosperity of the world economy. OPEC said that one producer in particular is to blame: The U.S., where shale ...

Sorry America, Your Taxes Aren’t HighPost Date: 2017-04-12 09:04:46 by Willie Green3 CommentsBut if you disagree, think about moving to Chile or New Zealand. Americans generally feel theyre being over-taxed, especially around this time of the year. Even their president agrees:With lower taxes on Americas middle class and businesses, we will see a new surge of economic growth and development, Donald Trump said this month, expanding on an earlier promise to cut Uncle Sams bill massively. But the reality is that the average U.S. worker pays quite a bit less than he would elsewhere in the developed world. And whats more, this has been the case for a long time. The Organization for Economic Cooperation and Development analyzed how 35 ...

Amazing: US Debt Decreased by More Than $60 Billion Since Trump InaugurationPost Date: 2017-03-12 16:28:05 by 3-Dee4 CommentsAmazing: US Debt Decreased by More Than $60 Billion Since Trump Inauguration Jim Hoft Mar 10th, 2017 8:27 am 596 Comments Guest post by Joe Hoft The US debt reduced by more than $60 Billion since the Trump Inauguration! On January 20th, the day of the Trump Inauguration, the US Debt stood at $19,947 billion. On March 8th, more than a month later, the US Debt load stood at $19,879 billion. Trump has cut the US Debt burden by $68 billion and 0.3% in since his inauguration! By comparison, under President Obama, the US Debt burden increased by more than $320 billion after his inauguration through March 8th 2009. Obama increased the US Debt by 3.1% during this time period and signed the ...

US adds 235,000 jobs, unemployment rate falls to 4.7%Post Date: 2017-03-10 10:03:46 by Justified0 CommentsThe February jobs report is out and its a beat. In February, the U.S. economy added 235,000 jobs and the unemployment rate fell to 4.7%. Economists were looking for payrolls to rise by 200,000 with the unemployment rate dropping to 4.7%. Earnings figures in February were also positive with average hourly earnings rising 0.2% over the prior month and 2.8% over the prior year. Januarys earnings figures were also revised up to show wages grew 2.8% over last year, more than the 2.5% that had been reported. This report, as markets had expected, likely clears the way for a rate hike from the Federal Reserve next week. Elsewhere in the report, we saw the labor force participation ...

MacGuineas: U.S. Faces $14 Trillion Deficit in 10 Years as Interest Is ‘Single Fastest-Growing Part of the Budget’Post Date: 2017-02-28 21:13:30 by cranky7 CommentsMaya MacGuineas, president of the Committee for a Responsible Federal Budget, discussed with Breitbart News Daily SiriusXM host Alex Marlow the serious nature of current and future budget issues facing the nation. We are on track if we do nothing over the next ten years  doing nothing, passing no laws  we will borrow nine trillion dollars, said MacGuineas on Tuesdays show. She also pointed out that as of now, Trumps current plans based upon his campaign rhetoric would add another five trillion dollars to the deficit. Our debt is already at record levels, she added. Its about seventy-seven percent of GDP, and we will borrow ...

The End Of A 100 Year Global Debt Super Cycle Is Way OverduePost Date: 2017-02-28 08:07:56 by U don't know me4 CommentsMarch 2017: The End Of A 100 Year Global Debt Super Cycle Is Way Overdue By Michael Snyder, on February 27th, 2017 Global Debt Super Cycle - Public DomainFor more than 100 years global debt levels have been rising, and now we are potentially facing the greatest debt crisis in all of human history. Never before have we seen such a level of debt saturation all over the planet, and pretty much everyone understands that this is going to end very, very badly at some point. The only real question is when it will happen. Many believe that the current global debt super cycle began when the Federal Reserve was established in 1913. Central banks are designed to create debt, and since 1913 the U.S. ...

Stockman: "After March 15 Everything Will Grind To A Halt"Post Date: 2017-02-27 10:09:09 by cranky6 CommentsTwo weeks after David Stockman warned that "the market is apparently pricing in a huge Trump stimulus. But if you just look at the real world out there, the only thing that's going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S. history" and exclaimed that, when looking at markets, "what's going on today is complete insanity" he is back with another interview, this time with Greg Hunter of USAWatchdog in which he, once again warns, that a giant fiscal bloodbatch is coming soon, and urges listeners to pay especially close attention to the March 15, 2017 debt ceiling deadling, at which point everything could "grind to a ...